Obaseki: Edo Refinery Operating at 80%, Over-Subscribed 

*Says govt investing in education, infrastructure, agriculture, security, others to reposition state

Edo State Governor, Mr. Godwin Obaseki has said the Edo Refinery in Ologbo, Ikpoba Okha Local Government Area of the state, was operating at 80 per cent capacity and currently oversubscribed.

The governor said this during an inspection of the companies operating in the Ologbo axis of the state, which plays host to a number of industrial concerns including the refinery project and an ethanol production plant, which is undergoing construction.
Edo Refinery was developed by Edo Refinery and Petrochemical Company Limited (ERPC) with support from the state government through a Memorandum of Understanding (MoU).

A statement quoted the governor to have said: “You can see that there is production going on at 80 per cent of the plant’s capacity and they have been able to sign a crude oil contract with a private company that is supplying them crude. They are refining and are able to sell.
“They are able to sell finished products now as you can see tankers loading. However, they have more demand than they produce. The demand from the local market is far in excess of what they are supplying. So, we need to encourage more people to build more refineries.”

The Edo Refinery is a 6,000bpd capacity plant, which is being expanded to 21,000bpd. The facility with its feedstock can produce 50 per cent of diesel (500,000 litres), 25 percent of naphtha (300,000 litres) and 20 percent of Low Pour Fuel Oil (LPFO) (200,000) litres.
The company got its first supply of 10,000 barrels of crude feedstock from Decklar Resources Inc. and its co-venturer, Millennium Oil & Gas Company Limited, which operates the Oza Oil Field.

According to the governor, “We are encouraging people in the Gelegele axis to also come to invest in the opportunities of the gas there. You know our government is one that encourages private investment and provides the enabling environment for people to come and invest.”
On his part, the Enogie of Ologbo Dukedom, HRH Owen Akenzua commended the governor for his developmental strides, promising to work with the state government to ensure peace and security in the area.

Meanwhile, Obaseki has said his administration, in the past six years has focused on reforming all sectors of the state, sustaining the investment in education, infrastructure, technology, agriculture, security, among others to improve the livelihoods of the people and achieve economic prosperity for the state.
Obaseki, in a state-wide broadcast, said his administration had built several kilometres of roads to open more areas in the state for economic activities, ensured a conducive environment for businesses and invested hugely in infrastructure and other sectors to attract investors and boost the economy of the state.

According to him, “Since you elected me as your governor in 2016, I, with my team, have totally dedicated ourselves to the service of Edo State. We have built hundreds of kilometres of roads across the three Senatorial Districts of the state. We have invested significantly in education, particularly in basic education through our EdoBEST programme and are beginning to reap the fruit of this investment in our children.

“Through EdoJobs, we have created over 200,000 jobs in agriculture, production, technology and entertainment.
“Because of the importance of electricity to our development, we were able to attract investors to the Azura 450MW project and the OssiomoIPP. With available electricity, we are lighting up our cities and attracting manufacturing companies into Edo.”
“The Edo State Oil Palm Programme, where we have attracted several large-scale international and domestic companies to estate farming, is now the reference in agriculture in Africa. More Edo citizens are now investing in agriculture,” he added.

Obaseki further noted, “We have attracted global retail chains, with sprawling new malls opening in the state; this is in addition to several top-class hospitality and entertainment businesses. Benin Airport has become the third busiest in the country in terms of passenger traffic and consequently, our hotels have occupancy rate averaging not less than 80 per cent daily.  n the area of security, working closely with our communities, we have been able to make Edo a much safer place to live.”